Postal Realty Trust, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 26, 2024 at 04:56 pm EST
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Postal Realty Trust, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 16.27 million compared to USD 14.21 million a year ago. Revenue was USD 17 million compared to USD 14.9 million a year ago. Net income was USD 1.18 million compared to USD 1.38 million a year ago. Basic earnings per share from continuing operations was USD 0.04 compared to USD 0.06 a year ago. Diluted earnings per share from continuing operations was USD 0.04.
For the full year, sales was USD 60.97 million compared to USD 50.88 million a year ago. Revenue was USD 63.71 million compared to USD 53.33 million a year ago. Net income was USD 3.71 million compared to USD 3.85 million a year ago. Basic earnings per share from continuing operations was USD 0.12 compared to USD 0.15 a year ago. Diluted earnings per share from continuing operations was USD 0.12.
Postal Realty Trust, Inc. is an internally managed real estate investment trust (REIT). The Company conducts its business through an Umbrella Partnership REIT (UPREIT) structure in which its properties are owned by its Postal Realty LP (Operating Partnership) directly or through limited partnerships, limited liability companies or other subsidiaries. It is focused on acquiring and managing properties leased primarily to the United States Postal Service (the USPS), ranging from last-mile post offices to industrial facilities. The Company owns and manages over 1,509 properties leased primarily to the USPS. Its property types include flex, industrial and last mile. The properties are located in 49 states and one territory, totaling approximately 5.9 million net leasable interior square feet in the aggregate. The Company provides fee-based third-party property management services for an additional 397 properties. Its properties include Bishopville, Gray, Michigamme, Pauline, and others.
POSTAL REALTY TRUST, INC. 
